# USDCAD Prices Edged Higher on Weak Canadian Dollar. What Next? | LeapRate | Online Trading Industry News, Broker Intelligence & Fintech Analysis

> USD/CAD edged higher as crude oil prices fell toward $75 a barrel on expectations that OPEC+ would agree on deeper supply cuts. Canada's September retail sales beat forecasts with a 0.6% increase, which limited the loonie's losses.

- Date: 2023-11-27 · published 2023-11-27T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/33407-usdcad-prices-edged-higher-on-weak-canadian-dollar-what-next-leaprate-online
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Falling oil prices reduce the Canadian dollar's support and raise the cost of US dollar-priced imports for Canadian feed buyers. Stronger domestic retail data offers some offset.

## Read by commodity

- WTI: bearish ▼
- USDCAD: bullish ▲

## Sources

- leaprate.com: https://www.leaprate.com/forex/market-news/usdcad-prices-edged-higher-on-weak-canadian-dollar-what-next/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.